Itr-4 for lic agent
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 June 2013
I want to file ITR-4 for LIC AGENT
THERE IS NO OTHER INCOME
Name of Deductor : LIFE INSURANCE CORPORATION OF INDIA
Total Amount Paid / Credited ( Rs. ) : 25,111.00
Total Tax Deducted# ( Rs. ) : 4057
Please help to file ITR4
There is no other income..
Awaiting for your optimistic reply.
THERE IS NO OTHER INCOME
Name of Deductor : LIFE INSURANCE CORPORATION OF INDIA
Total Amount Paid / Credited ( Rs. ) : 25,111.00
Total Tax Deducted# ( Rs. ) : 4057
Please help to file ITR4
There is no other income..
Awaiting for your optimistic reply.
CA PARAS BAFNA
(Expert)
16 June 2013
You can file ITR-4 in no Books of Account Case as the commission is below Rs 60000/-.
.
Show the commission as Gross Receipts and claim expenses on adhoc basis-
.
First Year Commission 50% Expenses,
Renewal Commission 15% Expenses.
.
Where such bifurcation is not available claim 1/3 of the commission income as expense.
.
.
Show the commission as Gross Receipts and claim expenses on adhoc basis-
.
First Year Commission 50% Expenses,
Renewal Commission 15% Expenses.
.
Where such bifurcation is not available claim 1/3 of the commission income as expense.
.
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